Ravi Menon: We have to depend on foreigners to fill vacancies for technology jobs
#1
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https://www.todayonline.com/singapore/65...tech-roles

About half of the new financial sector jobs in Singapore in 2021 will be in technology and consumer banking, MAS managing director Ravi Menon said

More than 90 per cent of new positions in the sector will be permanent, he said

2,500 to 3,500 tech-related jobs will be created in the sector each year

But there are not enough qualified Singaporeans to fill these positions, he said


Financial institutions here are offering about 6,500 newly created jobs in 2021, with more than 90 per cent of them being permanent positions, said Mr Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS).

Half of these jobs would be in technology and consumer banking, he added.

Mr Menon was giving an update on the outlook for the financial services sector during an online seminar organised for the industry on Tuesday (May 4).

He also said that more technology roles are being created, but not enough local graduates have the requisite skills to fill them.

This large mismatch between demand and supply of technology workers means two things. One, we have to continue to depend on foreigners to fill the growing vacancies for technology jobs over the next few years,” he said.


“Two, we need to build a strong local tech talent pipeline — as a collective effort involving individuals, financial institutions, and the Government.”
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#2
Then what happened to all the local graduates from our local universities!? Not good enough! I thought we are top in Science and Math in global ranking!
[+] 1 user Likes sporeguy's post
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#3
But we can increase our output of IT degree to fill right, why can't?

Big Grin
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#4
4-5-2021 7:01 PM
sporeguy said:
Then what happened to all the local graduates from our local universities!? Not good enough! I thought we are top in Science and Math in global ranking!
Top in science and math but went on to study something else.

Local population also shrank. Another 18 school's are merging yet again. Tem years from today. .mark my words.. .we will be reporting the same news again. Not enough locals, need FTs.
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#5
4-5-2021 7:03 PM
AwesomeTrader said:
But we can increase our output of IT degree to fill right, why can't?

Big Grin
Please... don't keep thinking we have lots and lots of young Singaporeans when you see a big crowd of Hans. Those are NOT Singaporeans. Those are Malaysians and Chinese.
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#6
4-5-2021 7:03 PM
AwesomeTrader said:
But we can increase our output of IT degree to fill right, why can't?

Big Grin

You don't really need a degree for most jobs and a degree is also often useless

Some on the job training over a few months will be enough for most jobs.
[+] 1 user Likes redcutie's post
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#7
Huh? Then our university top ranking for what? Study stones ah?
All My Posts are Fake News and Comments are Untrue.
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#8
The thing is that the hard core tech jobs don't have to be based in Singapore. They can be offshore.
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#9
We are always behind the curve. The trend towards IT is not new and our government has been harping on this for so many years. But apparently nothing or not enough has been done. What happened? 97
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#10
If not enough, then MP Chan should be fired for not setting Secondary, Poly and Universities into the Future Path.
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